3 Stocks Pushing The Diversified Services Industry Lower
2. As of noon trading, Acacia Research Coroporation ( ACTG) is down $1.73 (-7.4%) to $21.71 on heavy volume Thus far, 604,540 shares of Acacia Research Coroporation exchanged hands as compared to its average daily volume of 636,300 shares. The stock has ranged in price between $21.65-$23.87 after having opened the day at $23.82 as compared to the previous trading day's close of $23.44. Acacia Research Corporation, through its subsidiaries, acquires, develops, licenses, and enforces patented technologies in the United States. Acacia Research Coroporation has a market cap of $1.1 billion and is part of the services sector. The company has a P/E ratio of 24.0, above the S&P 500 P/E ratio of 17.7. Shares are down 35.8% year to date as of the close of trading on Friday. Currently there are 3 analysts that rate Acacia Research Coroporation a buy, no analysts rate it a sell, and 1 rates it a hold. TheStreet Ratings rates Acacia Research Coroporation as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Acacia Research Coroporation Ratings Report now.
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